At a time when real estate prices and demand appear to be softening across Dubai, Motor City continues to be a bright spot. The volume sales of residential units in Al Hebiah First have apparently increased sharply in Q1 of 2017 compared to Q1 of 2016.
The volumes sales in the quarter were up by 50% during the quarter compared to 2016. While increase in sales transactions is predicted in a softening market as more potential purchasers scout the market, what is remarkable has been that the value of transactions which has also grown albeit at a lower 30%. This is due to the volume growth being driven by smaller apartments including studios and 1 bedroom apartment.
The rate per square foot which is a good indicator of quality of the market remained soft down marginally.
Relatively speaking Motor City appears to have outperformed the rest of the city. Can this point to greater returns over the next few months and years?
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